Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-02-15-Speech-3-348-000"
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"en.20120215.18.3-348-000"2
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"Parliament has requested that the Commission present a report on the possibility of introducing euro-securities, which is an integral part of the agreement between Parliament and the Council on the package of six legislative proposals on economic governance. The euro area is in a unique situation, with the euro area Member States sharing a single currency without a common fiscal policy and a single bond market. The issuance of bonds with joint and several liability would, however, require a process of deeper integration. The euro area, as the issuer of the world’s second international currency, is co-responsible for the stability of the international monetary system. It is in its strategic long-term interest to draw all the possible benefits of issuing the euro, which has the potential to become a global reserve currency. The euro area and its Member States are responsible for ensuring the long-term stability of the currency used by more than 330 million people and many companies and investors, which indirectly affects the rest of the world. Stability bonds would facilitate the transmission of euro area monetary policy and would promote efficiency in the bond market and in the broader euro area financial system. At the same time, I am of the opinion that the introduction of a sustainable fiscal framework, aimed at both enhanced economic governance and economic growth, is a necessary precondition for a common issuance of bonds. I also believe that the prospect of stability bonds can foster stability in the euro area."@en1
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